Global flame retardants market expected to reach $9.56 billion by 2031, driven by construction and electronics industries

From GlobeNewswire: 2024-11-26 09:09:00

The global flame retardants market is experiencing growth due to increased demand from electrical & electronics and construction industries. A comprehensive report from The Insight Partners analyzes market trends, key players, and future opportunities. The market is expected to reach US$ 9.56 billion by 2031, with a CAGR of 5.1% driven by the construction sector’s fire safety standards and the growth of the electrical & electronics industry.

The report provides valuable insights for stakeholders in the flame retardants market, including raw material suppliers, manufacturers, and distributors. The market is segmented into halogenated and halogen-free types, with the building and construction sector dominating in 2023. Asia Pacific led the market in 2023, with the region expected to register the highest CAGR.

Major companies operating in the flame retardants market include ADEKA CORPORATION, Albemarle Corp, BASF SE, and Clariant AG. Trending topics include Green Flame Retardant and Halogen-Free Flame Retardants. The demand for green flame retardants is rising due to regulatory compliance and consumer awareness, leading to innovation in safer alternatives.

Key developments in the global flame retardants market include Clariant’s launch of a melamine-free flame retardant and Trinseo’s new PFAS-free flame retardant products. The role of flame retardants is crucial in modern construction and the production of electric vehicles and smart home technologies to ensure safety and reliability. The growth of construction and electrical & electronics industries is a significant driver of the market’s expansion.



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